Commentary

D8.306 Qualifying investing companies—no material interest requirement

Corporate tax
Corporate tax | Commentary

D8.306 Qualifying investing companies—no material interest requirement

Corporate tax | Commentary

D8.306 Qualifying investing companies—no material interest requirement

An investing company must not have a material interest in the issuing company at any time during the qualification period if it is to qualify under the corporate venturing scheme1.

Meaning of 'material interest'

The material interest test is very similar to the 'connected individuals' requirement under the enterprise investment scheme described at E3.111A. An investing company has a material interest in the issuing company if it (alone or with a person connected with it) directly or indirectly owns, or is entitled to acquire, more than 30% of certain rights in the issuing company

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